My belief is that the crash was induced by market manipulation. Group of people who holds some amount of BTC sells their BTC on coinbase or/and other exchnages to get market in red. In the same time they have leveraged postions on other exchnages with short postions. This is relativly easilt done bceause btc volume is small and therefore they dont ned a lot of money . the rest what happened was panic of the market. Its hard to tell wether it is healthy, it shacked of a lot of investors whihc have lost a ton of money but who will come and take their place..
Isn't that what all those hedge funds were supposed to be doing--the same hedge funds that apparently are going out of business in droves now? What you described sounds like hedging to me, and I'll betcha that there's probably too much leverage going on with the big traders. Seems like that's always the case when markets crash.
This could be big investors selling, or it could be people panicking.
As someone who doesn't keep up with bitcoin market news (and I probably should), I don't know what those bolded terms are. I'll check that link and see if it clears anything up. We really need some sort of running history of bitcoin news for idiots like me who always seem to get interested way too late.
Edit: Ach, that article was just a bunch of technical analysis babble.